Becton Dickinson reports net income down in 2nd quarter

Injection systems are some of the medical devices offered by Becton-Dickinson company based in Franklin Lakes. Star-Ledger file photo

Medical equipment supplier Becton, Dickinson and Co. said Thursday that its fiscal second-quarter net income fell 5 percent, but the results beat Wall Street predictions and the company boosted its outlook for the full year.

For the quarter ended March 31, the Franklin Lakes-based company earned $275.6 million, or $1.39 per share, down from $291 million, or $1.39 per share, in the same quarter a year ago.

The recent quarter's results are based on 198.1 million outstanding shares, while those of the year-ago period are based on 209.8 million.

Revenue increased 4 percent to $2 billion from $1.93 billion.

Analysts, on average, expected earnings of $1.35 per share on $1.99 billion in revenue, according to FactSet.

Revenue at the company's medical business rose 4 percent to $1.06 billion, helped by solid sales at its medical surgical systems and diabetes care units. Diagnostics revenue rose 5 percent to $659 million on strong demand for new products and international expansion.

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Biosciences revenue was flat at $279 million, hurt by soft western European demand.

The company boosted its 2013 profit from continuing operations prediction by 3 cents per share to a range of $5.72 to $5.75 per share, ahead of average analysts' predictions of $5.71 per share.

The company said it still expects revenue growth between 3.5 percent and 4 percent. Based on the previous fiscal year's results, that guidance implies fiscal 2013 revenue of between $7.98 billion and $8.1 billion.